'Zero Sales' Shilla and Lotte Duty Free Shops to Close Jeju Branch from June

On the 28th, with international flights disappearing from Jeju Island, Shilla Duty Free and Lotte Duty Free are consecutively ceasing operations of their downtown duty-free shops. The photo shows the exterior of Shilla Duty Free Jeju branch.

[Asia Economy Reporter Cha Min-young] As the global spread of the novel coronavirus infection (COVID-19) and the resulting entry restrictions by various countries continue, major duty-free shops have decided to temporarily close their downtown duty-free stores.

Shilla Duty Free announced on the 28th that it will indefinitely close its Jeju branch located in Yeondong, Jeju City, starting from the 1st of next month. This is due to a sharp decline in customers and no sales despite shortened operating hours.

Lotte Duty Free will also temporarily close its Jeju downtown store in Yeondong, Jeju City, starting from the 1st of next month. Previously, the Jeju branch had shortened its business hours since February, but faced operational difficulties due to declining sales.

This decision comes as a result of the sharp decrease in foreign tourists visiting Jeju. According to the Jeju Special Self-Governing Province Tourism Association, the number of foreign tourists visiting Jeju in April was 1,159, a 99.2% decrease compared to the same month last year (139,360). In particular, since the 6th of last month, international flights at Jeju International Airport have been suspended due to the Ministry of Land, Infrastructure and Transport's measure to centralize international flights at Incheon Airport.

Shilla Duty Free and Lotte Duty Free plan to resume operations at the Jeju branch once the international COVID-19 situation stabilizes and they monitor the trend.